Cruz Azul looking to purchase US plant

Mexican cement maker Cruz Azul is evaluating the acquisition of a new plant in the US as part of its international expansion plan, according to local newspaper El Semanario reported.

Cruz Azul is planning to sell shares or issues bonds to finance its potential entry into the US.

South America is not being considered at the moment because of low sales, with Mexico surpassing Brazil as the most attractive market in the region, the report said.

The company expects to take advantage of the US economic slowdown to find low-priced assets in the cement industry. Market fragmentation and a cement deficit in the US are other factors being considered in the acquisition, according to El Semanario.